Accelerated Payment gets software patent

Maryland Watch

Accelerated Payment Systems of Hunt Valley yesterday received a patent for a software system that allows businesses to collect payments from consumers over the phone without the use of credit cards.

APS, a division of National Credit Management Corporation, calls its product "APS Checks." Here's how it works: A business lets customers make payments by providing a few key pieces of information, such as name, telephone number, a check number and the series of numbers on the bottom of the check.

If this sounds a little familiar, it may be because APS has offered the service since the summer of 1992 and currently handles about 500,000 transactions per month, valued at over $125 million. Clients include MBNA, Citicorp, Baltimore Gas and Electric and USAir.

"I think the patent will do a number of things," NCMC Chairman Leeds Hackett said. "It will allow us to increase our client base substantially, and give us ability over time to lower the price of what we offer."

APS might also license the product to other companies that are willing and able to provide the same security features, Mr. Hackett said.